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UK Tax Pros Largely Support 2027 Carbon Border Tax Plan

by usoftax_admin | Jun 20, 2024 | Tax News

Two groups representing tax professionals welcomed the U.K. government’s plan to introduce a carbon border tax on certain carbon-intensive imports by 2027, but specifics regarding both default embedded emissions values and carveouts for smaller businesses must...

Ore. Water Treatment Plant Not On Farmland, Tax Court Says

by usoftax_admin | Jun 20, 2024 | Tax News

Portions of farmland used for a wastewater treatment facility were correctly denied a special farm-use assessment rate, the Oregon Tax Court said, allowing the special rate for other contested areas of the property.

Norway’s $95M Yearly Dividend Tax Losses Spur Joint Audit

by usoftax_admin | Jun 20, 2024 | Tax News

Norway’s tax agency announced a joint audit with other Nordic tax agencies, saying it loses an estimated 1 billion kroner ($95 million) a year in withholding taxes that should be paid by foreign shareholders on dividends but aren’t due to aggressive tax...

Ind. Car Wash Valued Correctly, State Tax Board Says

by usoftax_admin | Jun 20, 2024 | Tax News

An Indiana car wash was correctly valued by the local tax board as the property owner failed to provide market evidence to support a reduction in its assessment, the state tax review board determined.

Group To Appeal Rejection Of Suit Against Colo. Funding Law

by usoftax_admin | Jun 20, 2024 | Tax News

Colorado’s law creating fees to fund transportation enterprises violates the state’s Taxpayer’s Bill of Rights, a conservative group suing to throw out the fees told a state court, saying it was appealing to the state Court of Appeals.

Ark. Cuts Income Tax Rates, Expands Homestead Credit

by usoftax_admin | Jun 20, 2024 | Tax News

Arkansas cut its income tax rates and increased its homestead property tax credit under a bill signed by Gov. Sarah Huckabee Sanders.
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